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Domestic passenger vehicle wholesales increase by 14% in August: SIAM

Three-wheeler sales also remained in slow lane last month with a massive 75.29 per cent dip in offtakes.

SNS | New Delhi |

With the festive season around the corner, automakers witnessed a positive growth in passenger vehicle wholesales rising to 14 per cent and two-wheelers increasing 3 per cent, industry body SIAM said on Friday.

Society of Indian Automobile Manufacturers (SIAM) in its monthly data said that the passenger vehicle wholesales in India rose by 14.16 per cent in August to 2,15,916 units against 1,89,129 units in the year ago fiscal period.

Sales of vans also saw an increase of 3.82 per cent at 9,359 units as compared with 9,015 units in August 2019, SIAM said.

Similarly, two-wheeler sales also rose 3 per cent at 15,59,665 units as compared to 15,14,196 units in the same month last year. Motorcycle sales stood at 10,32,476 units as against 9,37,486 units in August 2019, up 10.13 per cent.

Scooter sales were, however, down 12.3 per cent at 4,56,848 units as against 5,20,898 units in the same month last year, SIAM said.

SIAM President Kenichi Ayukawa said, “We are beginning to observe growth which is instilling confidence back into the industry, especially in the two-wheeler and the passenger vehicle segments.”

He, however, added that the growth achieved in passenger vehicle and two-wheeler segments last month was on a low base of August 2019.

“It is to be recognised that the base figures in August 2019 itself was very low, as Industry had shown a de-growth of about 32 per cent for passenger vehicles and 22 per cent for two-wheelers in 2019, over 2018,” Ayukawa noted.

“Still, 14% growth of Passenger Vehicles and 3% growth in Two Wheelers in August 2020 indicates trends of recovery for the industry, though it is on the backdrop of pent-up demand and beginning of a festive season this month,” he added.

Three-wheeler sales also remained in slow lane last month with a massive 75.29 per cent dip in offtakes at 14,534 units as compared with 58,818 units in August 2019, it added.

SIAM Director General Rajesh Menon said, “after a period of lull owing to the COVID-19 imposed lockdowns, the month of August 2020 has witnessed improvement in the sales figures of Two-Wheelers and Passenger vehicles… Industry is positive that the coming festive season will pave the way for a faster revival of the industry.”

As per the SIAM data, leading carmaker Maruti Suzuki India (MSI) reported 21.32 increase in its wholesales last month at 1,13,033 units.

Similarly, Hyundai Motor India saw its sales increase by 19.9 per cent in August at 45,809 units as against the same month last year.

Mahindra & Mahindra offtakes rose by 1.09 per cent to 13,651 units, Kia Motors by 74.07 per cent at 10,853 units and Renault India by 41.3 per cent at 8,060 units.

In the two-wheeler segment, Hero MotoCorp wholesales increased by 8.52 per cent at 5,68,674 units while Honda Motorcycle and Scooter India offtakes increased marginally at 4,28,238 units.

Bajaj Auto saw its wholesales increase by 3 per cent at 1,78,220 units while TVS Motor Company dispatches dipped marginally at 2,18,338 units as against August 2019.